{"id":1004806886,"date":"2026-07-30T04:17:31","date_gmt":"2026-07-30T12:17:31","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004806886"},"modified":"2026-07-30T04:17:33","modified_gmt":"2026-07-30T12:17:33","slug":"highwoods-jv-secures-56m-for-tampa-tower","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/highwoods-jv-secures-56m-for-tampa-tower\/","title":{"rendered":"Highwoods JV Secures $56M for Tampa Tower"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-full is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/07\/Midtown-East-Photo-e1785405198958.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"1920\" height=\"1439\" data-attachment-id=\"1004806887\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/highwoods-jv-secures-56m-for-tampa-tower\/midtown-east-photo\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/07\/Midtown-East-Photo-e1785405198958.jpg\" data-orig-size=\"1920,1439\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Midtown_East_Tampa\" data-image-description=\"&lt;p&gt;Image received via e-mail from JLL&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Delivered in 2025, the 18-story building features 26,000-square-foot floor plates and ground-floor retail space. Image courtesy of JLL&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/07\/Midtown-East-Photo-e1785405198958.jpg?w=1024\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/07\/Midtown-East-Photo-e1785405198958.jpg\" alt=\"Exterior shot of Midtown East, an 18-story office building in Tampa, Fla.\" class=\"wp-image-1004806887\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/07\/Midtown-East-Photo-e1785405198958.jpg 1920w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/07\/Midtown-East-Photo-e1785405198958.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/07\/Midtown-East-Photo-e1785405198958.jpg?resize=768,576 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/07\/Midtown-East-Photo-e1785405198958.jpg?resize=1024,767 1024w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/07\/Midtown-East-Photo-e1785405198958.jpg?resize=1536,1151 1536w\" sizes=\"auto, (max-width: 1920px) 100vw, 1920px\" \/><\/a><figcaption class=\"wp-element-caption\">Delivered in 2025, the 18-story building features 26,000-square-foot floorplates and ground-floor retail space<em>. Image courtesy of JLL<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>Highwoods Properties and The Bromley Cos. have secured a $55.7 million loan for the 143,354 square feet of office and retail space they own at Midtown East, a mid-rise in Tampa, Fla. Valley Bank issued the note in a transaction arranged by JLL.<\/p>\n\n\n\n<p>Midtown East is a 432,000-square-foot property within the $1 billion Midtown Tampa district developed by the partnership. The 22-acre, mixed-use campus features 650,000 square feet of office space across three buildings, 200,000 square feet of retail space, roughly 700 multifamily units and a hotel. Since its delivery, the complex has become the one of the region\u2019s largest live-work-play destinations.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO<\/strong>: <a href=\"https:\/\/www.commercialsearch.com\/news\/whats-propelling-floridas-commercial-development-rush\/\" data-type=\"link\" data-id=\"https:\/\/www.commercialsearch.com\/news\/whats-propelling-floridas-commercial-development-rush\/\">What\u2019s Propelling Florida\u2019s Waterfront Development Rush?<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p>Midtown East rises 18 stories at 3600 Midtown Drive, close to Interstate 275 and downtown Tampa. The city\u2019s international airport is 3 miles away.<\/p>\n\n\n\n<p>The developers completed it in 2025 as the final office tower of the larger campus. In 2024, when <a href=\"https:\/\/www.commercialsearch.com\/news\/bromley-highwoods-top-out-83m-tampa-office-tower\/\">the partnership topped it out<\/a>, the property was the tallest office building in Tampa\u2019s Westshore submarket.<\/p>\n\n\n\n<p>The mid-rise features floor-to-ceiling windows, covered balconies, 26,000-square-foot floorplates, passenger elevators and ground-level retail space. The property targets multiple building certifications including LEED, Energy Star and Fitwel.<\/p>\n\n\n\n<p>As for amenities, the building provides access to Midtown Tampa\u2019s offerings, such as wellness classes, on-site dining, farmers markets and outdoor events. The district\u2019s dedicated parking area, including 4,500 spots and 90 EV charging stations, is also available to Midtown East tenants.<\/p>\n\n\n\n<p>Highwoods and Bromley own floors 10 through 15 and the retail space of the mid-rise. The duo achieved 100 percent occupancy across their entire office footprint in less than a year. Peoples Gas and Tampa Electric Co. <a href=\"https:\/\/www.commercialsearch.com\/news\/tampa-electric-peoples-gas-to-relocate-tampa-hq\/\" data-type=\"link\" data-id=\"https:\/\/www.commercialsearch.com\/news\/tampa-electric-peoples-gas-to-relocate-tampa-hq\/\">acquired 11 floors<\/a> at the property, totaling 298,000 square feet.<\/p>\n\n\n\n<p>JLL Senior Managing Directors Ed Coco, Evan Pariser and Lee Weaver, together with Managing Director Matt Casey, negotiated on behalf of the joint venture.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-tampa-s-strong-office-fundamentals\">Tampa&#8217;s strong office fundamentals<\/h2>\n\n\n\n<p>Tampa&#8217;s office sector ended the first half of 2026 on a high note, according to a recent <a href=\"https:\/\/www.commercialsearch.com\/news\/office-discounts-create-conversion-opportunities\/\" data-type=\"link\" data-id=\"https:\/\/www.commercialsearch.com\/news\/office-discounts-create-conversion-opportunities\/\">Yardi Matrix office report<\/a>. The metro&#8217;s vacancy stood at 14.3 percent as of June\u2014the third-lowest rate among the top 25 U.S. office markets, after Miami&#8217;s 13.2 percent and Manhattan&#8217;s 13.1 percent. The index witnessed a 190-basis-point recovery over the year, placing the metro eighth in the country for notable vacancy improvements.<\/p>\n\n\n\n<p>Tampa&#8217;s average rents stood at $30.10 per square foot in June, below the $33.67 per square foot national value. Development activity remains limited, mirroring ongoing <a href=\"https:\/\/www.commercialsearch.com\/news\/office-industry-trends\/\" data-type=\"link\" data-id=\"https:\/\/www.commercialsearch.com\/news\/office-industry-trends\/\">office real estate trends<\/a>. <\/p>\n\n\n\n<p>One of the metro&#8217;s planned projects is the redevelopment of the Historic Gas Plant District in St. Petersburg, Fla. In July, the city selected the <a href=\"https:\/\/www.commercialsearch.com\/news\/south-florida-city-selects-8b-mixed-use-proposal-for-historic-site\/\" data-type=\"link\" data-id=\"https:\/\/www.commercialsearch.com\/news\/south-florida-city-selects-8b-mixed-use-proposal-for-historic-site\/\">$8.1 billion revamp proposal<\/a> presented by Blake Investment Partners and Related Group. Plans call for a mixed-use project\u2014expected to include office, residential, hotel and retail space\u2014that would be developed over the next 15 to 20 years.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The office building is part of a $1 billion mixed-use district.<\/p>\n","protected":false},"author":2991,"featured_media":1004806887,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21825,21742,21747,32781,1612],"tags":[37128,52192,32796,32779,52358,52025],"class_list":["post-1004806886","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","category-latest","category-office","category-southeast","category-tampa","tag-fitwel","tag-highwoods-properties","tag-jll","tag-leed","tag-the-bromley-cos","tag-valley-bank"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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